Bitcoin overall shows a oscillating downward trend, starting to decline from the high point around 77,850 early this morning, continuously losing short-term support during the oscillation, with the lowest dip reaching around 76,382. Currently trading near 76,619, the market is clearly dominated by bears. Ethereum's movement remains highly correlated with Bitcoin, declining in tandem from the high of 2,180, approaching a low near 2,125, showing a consistent weak follow-through pattern. The market's correlation is prominent, and the overall risk appetite in the cryptocurrency market has cooled down. On the daily chart, the downward channel continues to extend effectively. After experiencing high-level oscillation and the gradual exhaustion of bullish momentum, the trend has clearly shifted to a oscillating decline. Bearish momentum accelerates, leading to a bearish arrangement of moving averages, with short-term averages like EMA15 and EMA30 turning downward, and prices trading below the moving average system. This pattern indicates that the trend is now clearly dominated by bears, with a strong likelihood of continued decline and structural stability. The MACD indicator's DIF has crossed below DEA to form a death cross, with green bars expanding, indicating that bearish forces dominate, and the risk of a pullback after divergence is being released. Regarding Bollinger Bands, prices are trading below the middle band, with the upper and middle bands narrowing continuously, and the lower band slowly rising, showing a consolidation pattern. The lower band support is around 76,000, while the upper band resistance is near 77,500-78,000. In the short term, a weak oscillation is expected to persist. The four-hour chart continues to show a weak downward trend, with prices consistently constrained by the lower boundary of the channel, displaying technical features of a unilateral weak decline, further solidifying the daily trend of bearishness. The current market rhythm indicates that bearish forces are still being released, and short-term rebounds are not trend reversals but typical bear market corrections, mainly aimed at replenishing selling pressure for further declines. Today's trading strategy remains focused on shorting during rebounds. Specific trading suggestions: Pay attention to the resistance at 77,000-77,800 and the two levels at 78,300 and 79,300. If these resistances hold, consider shorting from higher levels, targeting a decline of 500-6,000 points. Breaking above 79,300 and holding could signal a trend reversal.

5.20 Morning Bitcoin Market Analysis Although yesterday’s rebound and repair still looked relatively weak, the downward move has also been gradually slowing down. Bitcoin still hasn’t broken below 76,000. After the U.S. stock market opened last night, I first told my brothers in the live room to wait for the 1-hour chart to close. If 77,000 can’t be broken, then short at the current price for a quick move, targeting 76,500-76,300. Once the market naturally plays out and breaks its way, I then suggested that in the early hours, either wait for 76,000 to break down with volume and then go short targeting 75,500, or if a rebound comes first, watch how 77,000 is capped by resistance before taking a light short. The timing of the whole sequence is basically perfect—every take-profit was hit. Either the market is taking care of me, or it’s simply that if you just follow the trend, it works that easily. The daily price action is sticking close to the lower Bollinger Band, which suggests there are signs that support around the lower band is stabilizing in the short term. Of course, this could also be just a surface-level appearance of a downtrend continuation—making us think it’s time to buy the dip. So we’ll look at two key levels: first, whether the dip can stabilize around 77,500; second, whether the heavy resistance at 78,000 can be effectively broken. If the breakout is effective, it means the dip has the intention to rebound and continue moving upward. So my thinking is very clear: given the current trend, I won’t impulsively jump into a swing trade on the dip. Now looking at the 4-hour timeframe, the dip is still, as usual, repairing with rebounds. The MACD fast and slow lines are forming a golden cross at low levels, but clearly the momentum isn’t strong. Ethereum’s current trend is relatively weak—I won’t expand on analysis; just follow along with Bitcoin. You only need to note that the trend is weak and the upside/downside room is limited. Bitcoin is still mainly for short-term trades; shorts on rallies near the higher levels. Bitcoin near 77,300, target to continue lower to break 76,000; Ethereum near 2,135, target to go lower to 2,080.#Gate广场披萨节

May 20 $BTC Comprehensive Market Analysis News Sentiment: Geopolitical and macro risks: Iran-related tensions pushed oil prices higher, triggering an overall sell-off in risk assets. Bitcoin briefly rebounded from the weekend low near $76,500 to $77,000, but the recovery remains fragile. Market Sentiment: The Crypto Fear & Greed Index fell to 39 (fear zone). Investors are concerned about inflation, Federal Reserve policies, and leveraged liquidations. From the weekend through May 19, more than $600 million in leveraged long positions were liquidated. Regulatory developments such as the CLARITY Act add uncertainty, but they have not changed the long-term narrative overall. Bitcoin is down more than 25% from its early-2026 high (over $100k) and is currently testing key support. Overall, the news sentiment is bearish: it suppresses prices in the short term, but there are no signals of a systemic collapse. Capital Flow: ETF capital flows: On May 18, US spot Bitcoin ETFs recorded approximately $649 million in net outflows (the third-largest single-day outflow), ending six consecutive weeks of inflows. Major products such as BlackRock IBIT saw outflows across the board. This is the biggest source of pressure in the recent period. On May 19, flows turned to net neutral or fluctuated slightly. Other capital signals: Coinbase Premium turned negative (selling pressure from US investors). Funding rates are at low levels or have turned negative, indicating deleveraging without extreme panic. On-chain data shows that US traders are the main sellers. Technical Analysis: Bitcoin has rapidly pulled back from the mid-May peak above 80k and is currently ranging in the $76k–$78k zone. The daily MACD is nearing the zero line, suggesting it is about to choose direction. Based on the current chart, there are no clear bottoming signals yet. Next, watch whether it can break below the zero line—if it does, pay attention to how deep the downside could go. In summary: direction is about to be chosen, but neither the larger uptrend nor downtrend has clearly bottomed out yet. Bulls can wait a bit longer before building positions; bears can hold off and wait for a bottom before acting. Support: 75700–73600 Resistance: 78600–77900